Outlook on the Data Annotation Tools Global Industry to 2027 – by Type, Annotation Type & End-user – GlobeNewswire

Dublin, Aug. 25, 2020 (GLOBE NEWSWIRE) -- The "Data Annotation Tools Market to 2027 - Global Analysis and Forecasts by Type; Annotation Type; End-user" report has been added to ResearchAndMarkets.com's offering.

The global data annotation tools market was valued at US$ 695.5 million in 2019 and is projected to reach US$ 6,450.0 million by 2027; it is expected to grow at a CAGR of 32.54% from 2020 to 2027.

The process of data annotation includes labeling of data which makes it usable for machine learning. Data annotation tools are important for data scientists as they make use of the labeled data with machine learning algorithms. Data can be in any form, such as images (from cars, phones, or medical instruments), text (in English, Spanish, Chinese, and among others), audio, and video. There are different types of annotation techniques like polygon annotation, semantic segmentation, bounding box annotation, landmark annotation, polylines annotation, and 3D point cloud annotation. In house teams can label the data if it is a small set, but this can be time consuming. When large amount of data is to be annotated, it is outsourced to companies like Precise BPO Solution, who can handle millions of annotations in a week and it significantly saves time. Further, the increasing investments by various market players in data annotation techniques in order to offer high quality labeled data are expected to play a significant role in the growth of the market.

The applications of data annotation are growing strongly across the globe. Face detection and recognition is one of the major applications of data annotation. Countries across the globe are implementing various facial technologies to create social status and award penalties for public menace to its citizens. For instance, China has installed 200 million surveillance cameras, one camera for every seven of its citizens. It plans to install about 400 million new cameras by 2021 in the country, for security and traffic control purposes.

The market for data annotation tools has been segmented into type, annotation type, end user, and geography. Based on type, the data annotation tools market has been segmented into text, image, and others. Based on annotation type, the data annotation tools market has been segmented into manual, semi-supervised, and automatic. Based on end user, the data annotation tools market has been segmented into automotive, government, healthcare, financial services, retail, IT & telecom, and others. Geographically, the data annotation tools market is segmented into five regions: North America, Europe, APAC, MEA, and South America.

Appen Limited, CloudFactory Limited, Cogito, Deep Systems, Google LLC, Labelbox, Inc, LIGHTTAG, Tagtog Sp. z o.o., PLAYMENT INC., and SCALE AI, INC. are some of the well-established market players present in the global data annotation tools market.

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Key Topics Covered:

1. Introduction1.1 Study Scope1.2 Report Guidance1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology3.1 Coverage3.2 Secondary Research3.3 Primary Research

4. Data Annotation Tools Market Landscape4.1 Market Overview4.2 PEST Analysis4.2.1 North America PEST Analysis4.2.2 Europe PEST Analysis4.2.3 APAC PEST Analysis4.2.4 MEA PEST Analysis4.2.5 SAM PEST Analysis4.3 Ecosystem Analysis4.4 Expert Opinions

5. Data Annotation Tools Market - Key Industry Dynamics5.1 Drivers5.1.1 Growing Applications of Data Annotation5.1.2 Increasing Investments by Market Players5.2 Market Restraints5.2.1 Lack of Skilled Labor and Disadvantages Associated with Annotation Techniques5.3 Market Opportunities5.3.1 Trend of e-Education Across the world5.4 Future Trends5.4.1 Increasing Organic Development by Market Players5.5 Impact Analysis of Drivers and Restraints

6. Data Annotation Tools Market - Global Market Analysis6.1 Data Annotation Tools Market Overview6.2 Data Annotation Tools Market -Revenue, and Forecast to 2027 (US$ Million)6.3 Market Positioning - Global Key Players

7. Data Annotation Tools Market Analysis - By Type7.1 Overview7.2 Global Data Annotation Tools Market Breakdown, By Type, 2017 & 20277.3 Text7.3.1 Overview7.3.2 Text Market Revenue and Forecast to 2027 (US$ Mn)7.4 Image7.4.1 Overview7.4.2 Image Market Revenue and Forecast to 2027 (US$ Mn)7.5 Others7.5.1 Overview7.5.2 Others Market Revenue and Forecast to 2027 (US$ Mn)

8. Data Annotation Tools Market Analysis - By Annotation Type8.1 Overview8.2 Global Data Annotation Tools Market Breakdown, By Annotation Type, 2017 & 20278.3 Manual8.3.1 Overview8.3.2 Manual Market Revenue and Forecast to 2027 (US$ Mn)8.4 Semi-Supervised8.4.1 Overview8.4.2 Semi-Supervised Market Revenue and Forecast to 2027 (US$ Mn)8.5 Automatic8.5.1 Overview8.5.2 Automatic Market Revenue and Forecast to 2027 (US$ Mn)

9. Data Annotation Tools Market Analysis - By End User9.1 Overview9.2 Global Data Annotation Tools Market Breakdown, By End User, 2017 & 20279.3 Automotive9.3.1 Overview9.3.2 Automotive Market Revenue and Forecast to 2027 (US$ Mn)9.4 Healthcare9.4.1 Overview9.4.2 Healthcare Market Revenue and Forecast to 2027 (US$ Mn)9.5 Government9.5.1 Overview9.5.2 Government Market Revenue and Forecast to 2027 (US$ Mn)9.6 Financial Services9.6.1 Overview9.6.2 Financial Services Market Revenue and Forecast to 2027 (US$ Mn)9.7 Retail9.7.1 Overview9.7.2 Semi-Supervised Market Revenue and Forecast to 2027 (US$ Mn)9.8 IT and Telecom9.8.1 Overview9.8.2 IT and Telecom Market Revenue and Forecast to 2027 (US$ Mn)9.9 Others9.9.1 Overview9.9.2 Others Market Revenue and Forecast to 2027 (US$ Mn)

10. Data Annotation Tools Market - Geographic Analysis10.1 Overview10.2 North America: Data Annotation Tools Market10.3 Europe: Data Annotation Tools Market10.4 APAC: Data Annotation Tools Market10.5 MEA: Data Annotation Tools Market10.6 SAM: Data Annotation Tools Market

11. Industry Landscape11.1 Overview11.2 Growth Strategies Done By the Companies in the Market, (%)11.3 Organic Developments Done By The Companies In The Market11.4 Inorganic Developments Done By The Companies In The Market

12. COMPANY PROFILES12.1 Cogito12.1.1 Key Facts12.1.2 Business Description12.1.3 Products and Services12.1.4 Financial Overview12.1.5 SWOT Analysis12.1.6 Key Developments12.2 Google LLC12.2.1 Key Facts12.2.2 Business Description12.2.3 Products and Services12.2.4 Financial Overview12.2.5 SWOT Analysis12.2.6 Key Developments12.3 Deep Systems12.3.1 Key Facts12.3.2 Business Description12.3.3 Products and Services12.3.4 Financial Overview12.3.5 SWOT Analysis12.3.6 Key Developments12.4 Appen Limited12.4.1 Key Facts12.4.2 Business Description12.4.3 Products and Services12.4.4 Financial Overview12.4.5 SWOT Analysis12.4.6 Key Developments12.5 Labelbox, Inc12.5.1 Key Facts12.5.2 Business Description12.5.3 Products and Services12.5.4 Financial Overview12.5.5 SWOT Analysis12.5.6 Key Developments12.6 LightTag12.6.1 Key Facts12.6.2 Business Description12.6.3 Products and Services12.6.4 Financial Overview12.6.5 SWOT Analysis12.6.6 Key Developments12.7 PLAYMENT INC.12.7.1 Key Facts12.7.2 Business Description12.7.3 Products and Services12.7.4 Financial Overview12.7.5 SWOT Analysis12.7.6 Key Developments12.8 Scale AI, Inc.12.8.1 Key Facts12.8.2 Business Description12.8.3 Products and Services12.8.4 Financial Overview12.8.5 SWOT Analysis12.8.6 Key Developments12.9 Tagtog Sp. z o.o.12.9.1 Key Facts12.9.2 Business Description12.9.3 Products and Services12.9.4 Financial Overview12.9.5 SWOT Analysis12.9.6 Key Developments12.10 CloudFactory Limited12.10.1 Key Facts12.10.2 Business Description12.10.3 Products and Services12.10.4 Financial Overview12.10.5 SWOT Analysis12.10.6 Key Developments

13. Appendix13.1 About the Publisher13.2 Glossary of Terms

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Outlook on the Data Annotation Tools Global Industry to 2027 - by Type, Annotation Type & End-user - GlobeNewswire